Here is an update on our short sale process:
We currently have our home on the market. We had four showings the Tuesday before Thanksgiving, but no offers resulted and no showings since. We plan to have an open house after the holidays.
I received a voice mail message from Wells Fargo last week. When I called it back they informed us we are behind in our payments, which we were aware. I explained that we were in the process of applying for a short sale. The guy told us the short sale option had been denied. We had not received a letter regarding this yet and he told us when it was mailed out and asked if we wanted to reapply for the short sale again. I told him I would wait and see what the letter says. We were extremely disappointed and pretty much settled on the fact that we will have to stay put.
The letter arrived over the weekend and said exactly the opposite of what the guy on the phone told us! It said that we have not been approved for mortgage payment assistance because they were unable to get us to a revised payment amount that we could afford per the investor guidelines on our mortgage. Then it went on to say, "At this point, we recommend the following options: Short sale or deed in lieu of foreclosure." So, I guess we are still in the game!
Short Sale Process Continued
December 15th, 2009 at 02:53 pm
December 15th, 2009 at 04:01 pm 1260892884
December 24th, 2009 at 01:29 pm 1261661361
Jerry